Rethink Everything About Preparing Past Clients & Homeowners for a Refinance
First-time homebuyers often enter the process laser-focused on two numbers: the home price and the monthly mortgage payment. But the reality of owning a home extends far beyond those two figures. For our July articles, we want to help loan officers communicate to homebuyers what really makes up the total cost of homeownership and how understanding this early can prevent surprises and lead to smarter, more confident decisions.
Get Ready. Get Set. Go!
Mike Cush, Mortgage Sales & Customer Strategy Consultant
Blueprint for Turning Homeowner Workshops into a Refinance Ready Pipeline
Brian Vieaux, President & COO, FinLocker
Re-Engage Past Clients Now to Prepare for Future Refinance Opportunities
Brian Vieaux, President & COO, FinLocker
5 Ways to Win Back Past Clients Before the Refi Rush
Brian Vieaux, President & COO, FinLocker
View all previous articles
Get Ready. Get Set. Go!
Mike Cush, Mortgage Sales & Customer Strategy Consultant
How many times in your career have you spoken to a customer who worked with Credit Karma before talking to you? I know I have talked to a TON of them. Why? Because they were getting prepared. Someone gave them some information which prompted them to take steps to try and be prepared.
Did you know that in the past year, more than 25% of refinance applications were denied? I certainly didn’t. And do you know who else doesn’t know that? Your existing customer base, and your potential customer base!
Letting everyone know that was the case can prompt them to take steps to Get Ready.
One thing that is unique about the mortgage business is that someone else controls the pricing. If rates dropped by .5% tomorrow, it wouldn’t be because your company decided to do lower rates and bring loans for you in the door. It would be the condition of the overall national economy that led to an interest rate decision by the FOMC of the Federal Reserve. Do you get warning when prices are going down? Absolutely not.
When rates drop, your customers need to be all set to go. But you don’t want them to go to Credit Karma! That doesn’t bring them back to you. Besides, CK is a one trick pony. Many people won’t qualify because of DTI, so you need to help your market find a tool that takes it all into account. You need to give them everything that they need to Get Set.
When you see – or your borrower – sees that rates just dropped, you want to be 100% sure that both of you are ready to Go!
I have seen a million first time homebuyer webinars take place over the years. What I haven’t seen are “Make sure you are ready to refi” webinars advertised that lead with the 25% denial number.
- Build out the training based on your FinLocker or KeySteps app.
- Create the social media tiles.
- Spend a day and record a bunch of short videos about the topic.
- Schedule a month of Instagram, TikTok, Facebook & LinkedIn posts.
- Practice the webinar and post it on YouTube.
Get Ready. Get Set. Go!
Blueprint for Turning Homeowner Workshops into a Refinance Ready Pipeline
Brian Vieaux, President & COO, FinLocker
It’s been said that the cheapest loan to originate is the one you don’t lose to a competitor. In today’s market, refinance-ready homeowners could be the most valuable future clients but only if they’re financially prepared when rates drop.
Why the urgency?
According to the CFPB, 25.6% of overall refinance applications were denied in 2024. The numbers are even higher for FHA refi loans: 41.50% denial rate!
Most denials happen because borrowers wait too long to address credit issues and high debt-to-income ratios. By the time rates fall, it’s too late to fix the issues quickly — and they miss the opportunity.
That’s where homeowner workshops come in. Whether hosted in-person or online, these sessions position you as a trusted advisor, educate homeowners, and keep them engaged with your brand until they’re ready to move forward, whether it’s for a refi, HELOC or new home purchase.
The guide walks you step-by-step through creating and delivering an event that delivers real business results. Here’s a snapshot:
1 – Choose Your Format and Location
- Host in-person events at libraries, community centers, or co-working spaces. If you’re licensed in multiple states, consider doing a Facebook and/or LinkedIn live. Both platforms enable viewers to watch after the live event to boost your reach.
2 – Promote Like a Pro
- Invite past clients, current homeowners, and agent referrals via email. Post on social media using hashtags like #HomeownerWorkshop and #Refinancing. List your event on Eventbrite for added reach.
3 – Deliver Real Value by covering:
- How refinancing works and when it makes sense
- Key readiness factors: credit score, DTI, equity
- Steps to improve credit and build equity
- The refinance process and costs
4 – Keep Homeowners Engaged After the Event
Use FinLocker and KeySteps to enroll attendees in your app during the workshop so they can track their readiness progress, receive credit and property value updates, and stay connected to you so they can quickly move forward when the time is right.
5 – Repurpose for Ongoing Lead Generation
Post recordings on YouTube with a QR code to your app. Share short clips and insights on social media to attract more homeowners to your business.
Click here to get the complete Homeowner Workshop Blueprint
Re-Engage Past Clients Now to Prepare for Future Refinance Opportunities
Brian Vieaux, President & COO, FinLocker
The August 2025 ICE Mortgage Monitor report signals a clear opportunity for loan officers to re-establish relationships with past clients. Mortgage lending reached its highest quarterly volume since 2022, fueled by strong purchase activity and a surge in cash-out refinances. With tappable home equity at record levels, today’s market presents both challenges and untapped potential for loan officers who are proactive about borrower engagement.
Equity-Rich Borrowers Have Started Tapping into Their Homes
Cash-out refinances accounted for 59% of all refinance activity in the second quarter, with homeowners extracting an average of $94,000 in equity, even at the cost of higher monthly payments. Many of these borrowers accepted interest rates averaging 1.45 percentage points higher than their current loans, underscoring a powerful demand for liquidity. At the same time, nearly 48 million mortgage holders now hold tappable equity, averaging $213,000 per homeowner.
While demand for cash-out loans is strong today, a larger group of homeowners is waiting on the sidelines, eager to refinance for payment savings when rates eventually decline. This pent-up refinance demand represents a prime opportunity for loan officers who position themselves as trusted advisors now.
Home Price Trends Highlight the Urgency to Reconnect
Despite record equity levels, growth is slowing in many markets. Cities such as Austin and Deltona, Fla., have seen tappable equity per borrower drop more than 25% from recent highs. Nearly a quarter of U.S. markets are experiencing equity declines, and about 564,000 borrowers are now underwater. For loan officers, this means timing is critical. Engaging with past clients today can help ensure they act strategically before market conditions shift further.
Why Early Engagement Matters
The CFPB reports that the overall refinance denial rate reached 25.6% in 2024, and 41.5% of applications for FHA refinance loans were denied. Often, these denials could have been prevented with better preparation around credit and debt-to-income positioning. Loan officers who reconnect with past clients now can help them strengthen their financial profiles, so when rates drop, they qualify without delays.
The Takeaway for Loan Officers
The market is full of borrowers sitting on record equity and waiting for the right rate environment to refinance. By re-engaging past clients today through education on equity and debt-to-income ratio, how to improve their credit, and positioning them for quick action, loan officers can build loyalty, increase retention, and ensure they’re the first call when rates drop.
In today’s evolving market, borrower readiness is everything. Loan officers who act now will be the ones to capture tomorrow’s refinance wave.
Reconnect with Past Clients with Email and a Text
Consumer Email
Subject Line Options:
- “Are You Ready for the Next Refinance Opportunity?”
- “Let’s Get You Mortgage-Ready Before Rates Drop”
Hi [First Name],
I hope this message finds you well! I’m sharing some important market updates that could affect your financial options as a homeowner.
- Home equity is at record highs. The average homeowner now has about $213,000 in tappable equity. Many homeowners are already accessing this through cash-out refinances, even at today’s higher rates.
- Refinance opportunities are building. Millions of homeowners are waiting for rates to drop so they can refinance into lower payments. When that happens, there will be a wave of activity.
- Preparation is key. According to the CFPB, 25.6% of refinance applications were denied in 2024, often due to poor credit health and high debt-to-income ratio (DTI).
That’s why now is the perfect time to review your financial position and get “mortgage-ready.” By taking small steps today, such as checking your credit, reviewing your DTI, home value and equity, we can ensure you’re in the best position to act quickly when the right opportunity comes.
Would you like to schedule a quick mortgage check-in? I can review your current equity, discuss potential strategies, and help you be fully prepared for when rates drop.
Let’s make sure you’re ready to take advantage of your options when rates drop.
Best regards,
[Your Name]
[Your Contact Information]
Text
Home equity is at record highs. Market analysts are predicting interest rates to drop before the end of the year. Now is the time to ensure you’re in the best possible financial position to act quickly when opportunities return. Want to set up a quick check-in?
5 Ways to Win Back Past Clients Before the Refi Rush
Brian Vieaux, President & COO, FinLocker
After Fed Chair Jerome Powell’s comments on August 22, the likelihood of an interest rate cut in September is stronger than ever. While a 25 bps drop alone may not send homeowners rushing to refinance, it’s enough to spark interest, especially among those who purchased in the past 24 months.
As a loan officer, this is your moment to position yourself as the go-to resource before your clients start shopping elsewhere. If you’re not staying top of mind, your past borrowers may turn to their servicer or even a mortgage influencer on Instagram or TikTok.
The reality: if you haven’t been in consistent contact, you risk being forgotten when your clients are ready to refinance. The good news? You can change that starting today.
How to Reconnect and Stay Top of Mind
1. Segment Your Database
Start by identifying past clients with mortgage rates between 5 and 6%, and those above 6%, as these homeowners stand to benefit most from refinancing. But don’t stop there. Life happens: families grow, jobs change, and homes need repairs and renovations. Many are hesitant to tap equity with a cash-out refi, but a HELOC could be the perfect solution to fund upgrades while keeping their low first-mortgage rate.
2. Personalize Your Outreach
Generic emails won’t cut it. Reach out in the way your clients prefer, whether that’s a phone call, text, or email. Remind them of the value you brought during their first mortgage and offer to review their current situation. Show them what refinancing or leveraging home equity could mean for their financial future.
3. Share Value-Driven Content
Consistently provide resources that make their homeowner journey easier. This could be home maintenance or renovation tips, such as how to work with an architect on a home remodel, or strategies to increase home equity faster. Position yourself as a trusted advisor, not just another loan officer looking for the next deal. Get started with our email journeys.
4. Leverage Technology
Give homeowners the tools they need to track equity, monitor their home’s value, and manage their finances. Whether it’s KeySteps or a white-labeled FinLocker-powered app, invite every past client in your database and offer to homeowners on social media to use your aoo to regain their mortgage readiness. These platforms will help keep your clients engaged while keeping you top of mind. Pair that with a CRM to automate follow-ups, and you’ll ensure no opportunity slips through the cracks.
5. Educate Through Events
Host a virtual Q&A or homeowner workshop to demystify refinancing. These low-pressure sessions let you re-engage with a broad audience and build trust at scale. (Get my Blueprint for Turning Homeowner Workshops into a Refinance Ready Pipeline to start fast.)
The race to refinance is already underway. Winners won’t be the loan officers who wait for the phone to ring; they’ll be the ones who are proactive, persistent, and personalized in their approach.
Start today. Make sure your clients know you’re in their corner, ready to help them prepare now so they can seize the opportunity when rates drop.